Commercial Law

INSOLVENT DEBTORS--"GRAB LAW."--When a debtor is insolvent there are several things that he may do. In the first place he may do nothing. He may let his creditors try to get any...

THE NATURE OF A CORPORATION.--The nature of a corporation is perhaps best understood by an illustration. In the case of People's Pleasure Park Co. v. Rohleder, 109 Va. 439, the...

THE IMPORTANCE OF AGENCY.--Now that we have finished our discussion of the general principles of contract law, it remains for us to apply these principles to the specific topics...

PROPERTY DEFINED.--Property in the strict legal sense, is the aggregate of rights which one may lawfully exercise over particular things to the exclusion of others. "If a man we...

CARRIERS WHO ARE PUBLIC SERVICE COMPANIES.--Common Carriers--that is, railroads, express companies, and other persons or corporations who carry goods for hire and hold themselve...

PRIMARY RULE.-After a contract has been formed, it does not make much difference whether it is under seal or whether it is a simple contract; the rules governing the contract, s...

Commercial law is a general term used to cover the legal rules which relate most directly to everyday commercial transactions. It is a term of no exact boundary, but most commer...

CONSIDERATION MAY BE ANOTHER PROMISE OR AN ACT.--The second great requisite in the formation of simple contracts is consideration. A price must be paid for a promise in order to...

RELATIONS ANALOGOUS TO PRINCIPAL AND AGENT.--There are a few relations, in the law, which are analogous to that of principal and agent. The one which we shall take up now is the...

HISTORY.--By the term "negotiable paper," we ordinarily mean promissory notes, bills of exchange and checks. The law governing negotiable paper originated among the customs of m...

ESTATES.--When a person who owns property dies, the first question which arises is as to what becomes of his estate; who pays the bills, who takes charge of his business affairs...

DISTINCTION BETWEEN THE LAW GOVERNING SALES OF REAL AND PERSONAL PROPERTY.--The main distinction between the law governing real and personal property is the increased formality...

TORT, CONTRACT, AND CRIME DISTINGUISHED.--We have already discussed contracts in detail. The fundamental idea of contracts is that the obligation of a contract is voluntarily as...

UNIFORM TRANSFER OF STOCK.--Turn now to an entirely different matter, the transfer of stock. A stock certificate is one of the quasi-negotiable instruments of commerce, at commo...